Veeva Systems Inc. (VEEV) Earnings Call Transcript & Summary

Welcome to the 2020 Annual Meeting for Veeva Systems, Inc. Our host for today's call is Josh Faddis, General Counsel and Corporate Secretary. [Operator Instructions] I will now turn the call over to your host, Mr. Faddis. You may begin, sir.

Hello. My name is Josh Faddis. I'm General Counsel and Corporate Secretary of Veeva Systems, Inc. I'm very happy to welcome you to Veeva's Annual Stockholder Meeting. The meeting will now officially come to order. The time is now 12:02 p.m. on Thursday, June 25, 2020, and the polls are now open for voting on all matters to be presented at this meeting. As you know, we are hosting today's meeting through a virtual online platform that is provided by Broadridge. Before we proceed to the formal business of the meeting, I would like to introduce other members of the Veeva team, who are with us today. The members of Veeva's management team with us today include Peter Gassner, our Founder and CEO, who is also a Veeva Director; and Tim Cabral, our CFO. Also present are members of our Board of Directors: Tim Barabe; Mark Carges; Paul Chamberlain; Ron Codd; Gordon Ritter, our Board Chair; Paul Sekhri; Mary Lynne Hedley; and Matt Wallach. Also with us are David Ray and John Ebner from KPMG; and Kathy Wheadon, from Broadridge Financial Solutions, who is acting as our Inspector of election. We will now move to the formal business of the meeting. Broadridge has delivered an affidavit of distribution, establishing that notice of this meeting has been duly given. A copy of the notice and the affidavit of distribution will be filed with the minutes of the meeting. All stockholders of record at the close of business on May 1, 2020, are entitled to vote at this meeting. Broadridge has also advised me that proxies have been received for a sufficient number of shares to constitute a quorum, so the meeting is duly convened for the purpose of transacting business. Stockholders who are attending this meeting with a valid 16-digit control number may submit questions through the text box located on the virtual meeting screen. Mimi Kong from our Investor Relations team will review incoming questions. And during the QA portion of the meeting, we'll read questions out loud for Peter, Tim or myself to respond. At today's meeting, QA will be limited to questions that pertain to the proposals presented for vote at this meeting. Veeva's Investor Relations team will respond separately to questions on other topics. After Q&A, we will close the polls and announce the preliminary results of the voting. We will not accept ballots, proxies, revocations or changes after the closing of the polls. If you've already submitted your vote by proxy and do not wish to change your vote, then you do not need to vote now. If you have not already voted and you intend to do so, you must submit your vote online before the polls close. If you logged in with your control number, you can vote online now by clicking the orange Vote Here icon at the bottom right corner of the online meeting portal. I will now present the 2 proposals submitted for approval at this meeting. The first item of business is the nomination and election of 3 Class I directors for a term of 3 years or until their successors have been duly elected and qualified. Mark Carges, Paul E. Chamberlain and Paul Sekhri have been nominated to serve as Class I directors of the company. We recommend you vote for all director nominees. The second item of business is to ratify the appointment of KPMG as Veeva's independent registered public accounting firm for the fiscal year ended January 31, 2021. We recommend you vote for the ratification of KPMG. There are no other proposals for today's meeting. We will now review questions submitted by shareholders. As a reminder, at today's meeting, we will only be reviewing and answering questions that pertain to the 2 proposals just presented. Mimi, are there any questions about the 2 proposals?

There are no questions at this time.

Thank you. If you intend to vote at this meeting and have not already done so, you must submit your vote online now in order for it to be counted. I will briefly pause for final votes to be cast online using the Vote Here icon. [Voting]

It is now 12:06 p.m. on Thursday, June 25, 2020. I hereby declare the polls closed. Based upon all the proxies and ballots received prior to the commencement of the meeting, I confirm the following. Mark Carges, Paul E. Chamberlain and Paul Sekhri have been elected to the Board of Directors to serve as Class I directors for the term of 3 years; and the appointment of KPMG as the company's independent registered public accounting firm for the fiscal year ending January 31, 2021 has been ratified. The Inspector of election will conduct a final count of all votes on these matters, and the final results will be included in the minutes of this meeting. This concludes the formal business of the meeting. As there is no further business, we will now adjourn this meeting. Thank you very much for attending Veeva's 2020 Annual Stockholders Meeting and for your continued support of Veeva.

This now concludes the meeting. Thank you for joining, and have a pleasant day.